Independent Review – Department of Foreign Affairs and Trade
On 9 February 2016 the Government tabled the Trans-Pacific Partnership (TPP) Agreement.
The TPP Analysis of Regulatory Impact on Australia was certified by the Department of Foreign Affairs and Trade as meeting the requirements of a Regulation Impact Statement. Under the Australian Government Guide to Regulation, the Office of Best Practice Regulation (OBPR) does not assess independent reviews.
The Treaty will eliminate barriers to trade and investment in the Asia-Pacific region, facilitate regional supply chains, improve on arrangements with existing free trade agreement partners, and create new preferential trading arrangements with Canada, Mexico and Peru.
Under the Government’s best practice regulation process, a post-implementation review of the TPP Agreement will need to be completed within five years following the implementation of the Agreement as the TPP was assessed by the OBPR to be likely to have a substantial and widespread impact on the Australian economy.
Regulatory savings of $147,000 per annum were agreed with the OBPR.
- TPP Analysis of Regulatory Impact on Australia [
619KB] - TPP Analysis of Regulatory Impact on Australia [
326KB] - Department Certification [ 114KB]
- Department Certification [ 129KB]
- OBPR response [ 151KB]
- OBPR response [ 53KB]